Which of the following statements is correct for governmental funds?
a. Fund-based financial statements measure economic resources.
b. Government-wide financial statements measure only current financial resources.
c. Fund-based financial statements measure both economic resources and current financial resources.
d. Government-wide financial statements measure economic resources.
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Which of the following statements is correct for governmental funds?
a. Fund-based financial statements measure economic resources.
b. Government-wide financial statements measure only current financial resources.
c. Fund-based financial statements measure both economic resources and current financial resources.
d. Government-wide financial statements measure economic resources.
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